B. Riley Securities Advises ProSmile Holdings on its Debt Financing from BankUnited

LOS ANGELES, February 22, 2024 -- B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as exclusive financial advisor to ProSmile Holdings, LLC ("ProSmile"), one of the largest and fastest growing Dental Service Organizations ("DSO") in the Mid-Atlantic region, in its successful debt financing from BankUnited, N.A. ("BankUnited"), a Florida-based commercial bank. ProSmile is backed by TriSpan, an established middle-market private equity firm with investments that span North America, Europe, and the United Kingdom.

"Our primary aim at ProSmile has always been to support our providers as they deliver exceptional dental care," said Hugh Carey II, Chief Executive Officer at ProSmile. "Our partnership with BankUnited will allow us to grow in new markets and expand the positive impact we provide to patients."

Since its inception, ProSmile has been recognized for excellence in dentistry throughout the Mid-Atlantic. ProSmile offers the full spectrum of dental care to patients of all ages including general dentistry, orthodontics, oral surgery, endodontics, pediatric dentistry, and periodontics. Since its recapitalization by TriSpan in 2019, ProSmile has grown from nine to 60 locations, serving patients in New Jersey, Pennsylvania, Maryland, Virginia, and Washington, D.C. For more information, visit www.prosmile.com.

"We were pleased to work with ProSmile in support of its new partnership with BankUnited to expand patient access across the Mid-Atlantic and beyond," said Holly Smyth, Managing Director with B. Riley Securities.

James Metcalf, Senior Managing Director, added, "Dentistry remains one of the most active healthcare specialties for investment, and the ProSmile transaction adds to our firm's successful track record of advising premier dental service organizations."

Founded in 2015, TriSpan is a private equity firm with offices in New York and London that invests in lower middle market companies in North America, Europe, and the United Kingdom with annual revenues typically ranging from $20-100 million and/or EBITDA of $2-20 million. For more information visit www.trispanllp.com.

BankUnited, Inc. (NYSE: BKU), with total assets of $35.8 billion at December 31, 2023 is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida that provides a full range of banking and related services to individual and corporate customers through banking centers located in the state of Florida, New York metropolitan area and Dallas, Texas and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. BankUnited also offers certain commercial lending and deposit products through national platforms. For additional information, call (877) 779-2265 or visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.official and on Twitter @BankUnited.

B. Riley Securities' Healthcare & Life Sciences practice provides a full suite of investment banking services to healthcare companies across the care continuum. Areas of specialization include providers, outsourced provider services, payors and payor services, behavioral health, digital health, outsourced pharmaceutical services, pharmacy, pharmaceuticals, medical products and devices.

B. Riley's deal team was led by Holly Smyth and James Metcalf and included Alex Wolodzko, Andrew Tan, William Gladstone.

For more information about this transaction, please contact James Metcalf or Holly Smyth at jmetcalf@brileyfin.com or 917-620-1161 and hsmyth@brileyfin.com or 312-520-1800.

About B. Riley Securities
B. Riley has served as a preeminent fixture in middle market brokerage and investment banking for over 25 years. We provide a full suite of investment banking and capital markets services to companies, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and recapitalization. Widely recognized for our thematic proprietary equity research, clients benefit from B. Riley's extensive network, industry expertise, and proven execution capabilities of our end-to-end financial services platform. B. Riley Securities is a subsidiary of B. Riley Financial (Nasdaq: RILY). For more information, visit www.brileysecurities.com.